Mumbai Indians Owners Secure 49% Stake in Oval Invincibles, Expanding Global Cricket Presence

Mumbai Indians (MI) owners, Reliancе Industries (RIL), have reportedly shelled out an impressive 123 million pounds for a 49% stake in The Hundred team, Oval Invincibles. The Invincibles are the current champions and have won the men's Hundred title consеcutively two years in a row. They were the first team to be sold in the final stage of the ECB's auction.

Reliance Industries (RIL) is now in exclusive negotiation to set up terms with Surrey, the ECB, and their financial advisers before signing the deal. It has been reported that the value of the entire franchise is £123 million, which means that RIL will be invеsting more than £60 million for the 49% stake. The ECB has not commented on the issue and it is anticipated that the information on the bidders and the valuation of the franchise will only be provided next week. There has been no comment from Surrey either.

The deal sees two big players come together, Mumbai Indians, the biggest team in the IPL, and Surrey the richest county cricket club in England. The Invincibles are now the sixth team owned by RIL, making Mumbai Indians (in both IPL and WPL), MI New York (MLC), MI Cape Town (SA20) and MI Emirates (ILT20). To begin with, RIL had intended to invest in London Spirit, however, they altered their strategy to the Invincibles as the process progressed.

Mumbai Indians have apparently beaten several other groups, including tech team from Silicon Valley of the CEOs of Google, Microsoft, and Adobe, and private equity firm CVC. This move also helps RIL to expand its presence in cricket, in different leagues of the world.